Legacy Housing Corp LEGH

Industrials SIC 2451 - Mobile Homes NAICS Manufacturing › Wood Product Manufacturing › Other Wood Product Manufacturing › All Other Wood Product Manufacturing › Manufactured Home (Mobile Home) Manufacturing derived Nasdaq

In this Form 10-K, unless otherwise indicated or the context otherwise requires, "Legacy," "the Company," "we," "us" or "our" refer to Legacy Housing Corporation, a Texas corporation.

We build, sell, and finance manufactured homes and "Tiny Houses" that are distributed through a network of independent retailers and company-owned stores and also sold directly to manufactured home communities. The company was founded in 2005, and our corporate office is located in Bedford, Texas (between Dallas and Fort Worth). We completed our initial public offering in December 2018 and our common stock trades on The Nasdaq Global Select Market under the symbol "LEGH."

We are one of the largest producers of manufactured homes in the United States. With current operations focused primarily in the southern United States, we offer our customers an array of quality homes ranging in size from approximately 395 to 2,667 square feet consisting of 1 to 5 bedrooms, and 1 to 31/2 bathrooms. Our homes range in price, at retail, from approximately $47,000 to $200,000. During 2025, we sold 1,703 units (which are entire homes or single floors).

Last close 28.04 2026-10-23
Market cap $666.8M estimated share count
52-week range 18.29 - 31.34

Valuation FY2025 figures against the last close

P/S5.7x
P/E16.1x
P/FCF23.7x
EV/EBITDA13.3x
Dividend yield—
Diluted EPS1.74

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Revenue $116.9M$129.3M$145.1M$222.1M$166.0M$147.5M$143.2M$139.2M—
Cost of revenue $84.8M$90.1M$99.7M$150.1M$114.0M$109.7M$104.9M$107.2M—
Gross profit $32.1M$39.3M$45.4M$71.9M$51.9M$37.8M$38.3M$31.9M—
SG&A $29.6M$22.3M$24.3M$27.6M$23.3M$19.1M$25.5M$21.0M—
Total operating expenses $116.2M$120.6M$124.6M$179.0M—————
Operating income $48.4M$63.6M$64.6M$78.0M$58.9M$47.6M$37.8M$32.8M—
Interest expense $28.0K$689.0K$930.0K$375.0K$887.0K$1.1M$702.0K$2.5M—
Pre-tax income $51.6M$76.0M$68.7M$82.1M$60.6M$48.8M$37.6M$30.6M—
Income tax $9.8M$14.4M$14.3M$14.4M$10.8M$10.8M$8.7M$9.1M—
Net income $41.8M$61.6M$54.5M$67.8M$49.9M$38.0M$28.8M$21.5M—
EPS, basic 1.742.552.232.782.061.571.181.07—
EPS, diluted 1.742.482.172.742.051.571.181.07—
Shares, diluted (wtd. avg.) 24.0M24.9M25.1M24.7M24.3M24.2M24.4M20.2M—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Cash and equivalents $8.5M$1.1M$748.0K$2.8M$1.0M$768.0K$1.7M$2.6M$428.0K
Receivables $5.5M$4.0M$4.7M$4.9M$5.1M$3.5M$1.8M$3.0M—
Inventory $39.9M$37.5M$41.0M$32.1M$42.0M$27.2M$27.2M$42.0M—
Total current assets $164.7M$124.3M$115.7M$107.1M$92.5M$54.6M$53.0M$63.1M—
Property, plant and equipment $60.5M$47.6M$37.9M$30.1M$27.5M$22.6M$21.0M$17.1M—
Goodwill $2.5M————————
Other intangibles $5.2M————————
Total assets $580.3M$534.2M$506.7M$436.8M$366.7M$338.6M$283.6M$235.0M—
Accounts payable $6.4M$5.1M$4.1M$4.5M$4.2M$10.2M$5.2M$2.8M—
Total current liabilities $46.9M$32.7M$37.3M$41.5M$41.9M$36.4M$51.9M$20.4M—
Total liabilities $51.7M$40.2M$70.0M$54.7M$57.3M$79.4M$61.2M$45.8M—
Retained earnings $363.2M$321.4M$259.8M$206.0M$138.2M$88.4M$50.4M$21.5M—
Total equity $528.6M$494.0M$436.7M$382.1M$309.4M$259.2M$222.4M$189.3M—

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Operating cash flow $37.2M$36.0M-$13.5M-$1.7M$60.3M-$1.8M-$4.2M$2.8M—
Depreciation and amortisation $1.9M$1.9M$1.7M$1.9M$1.6M$1.2M$1.0M$838.0K—
Stock-based compensation $458.0K$777.0K$769.0K$4.9M$230.0K$226.0K$630.0K——
Capital expenditure $9.0M$9.2M$7.7M$3.8M$6.0M$2.8M$4.2M$6.1M—
Investing cash flow -$22.1M-$6.7M-$9.8M$9.1M-$31.9M-$2.7M-$15.1M-$4.5M—
Financing cash flow -$7.7M-$28.9M$21.2M-$5.6M-$28.1M$3.6M$18.4M$3.8M—
Buybacks $7.6M$5.4M———$1.4M$3.1M——

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-027133.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 100M 200M 300M Revenue, FY2018: 139.2M Gross profit, FY2018: 31.9M Net income, FY2018: 21.5M Revenue, FY2019: 143.2M Gross profit, FY2019: 38.3M Net income, FY2019: 28.8M Revenue, FY2020: 147.5M Gross profit, FY2020: 37.8M Net income, FY2020: 38M Revenue, FY2021: 166M Gross profit, FY2021: 51.9M Net income, FY2021: 49.9M Revenue, FY2022: 222.1M Gross profit, FY2022: 71.9M Net income, FY2022: 67.8M Revenue, FY2023: 145.1M Gross profit, FY2023: 45.4M Net income, FY2023: 54.5M Revenue, FY2024: 129.3M Gross profit, FY2024: 39.3M Net income, FY2024: 61.6M Revenue, FY2025: 116.9M Gross profit, FY2025: 32.1M Net income, FY2025: 41.8M FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $139.2M $143.2M $147.5M $166.0M $222.1M $145.1M $129.3M $116.9M
Gross profit — $31.9M $38.3M $37.8M $51.9M $71.9M $45.4M $39.3M $32.1M
Net income — $21.5M $28.8M $38.0M $49.9M $67.8M $54.5M $61.6M $41.8M

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Officer or director change Item 5.02
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Other event Item 8.01
  • Other event Item 8.01
  • Officer or director change Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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